At a time when the Securities and Exchange Commission has endured criticism for its perceived regulatory lapses — most notably the failure to detect Bernard Madoff’s decades-long Ponzi scheme — the SEC’s new enforcement director, Robert Khuzami, told a packed crowd at the New York City Bar on Wednesday that he plans to expand the division’s powers.
“These are challenging times in the division of enforcement,” Khuzami said, “but also times of opportunity.”
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